BOSTON ( TheStreet) -- Alkermes (ALKS) shares were poised to rally Friday after the U.S. Food and Drug Administration recommended approval of the company's opioid dependence treatment, making it one of several stocks poised to move on above-average volume.
Alkermes was set to trade higher Friday after an FDA advisory committee voted 12 to 1 to recommend approval of Vivitrol, a treatment for patients who abuse opoids, such as heroin. The FDA has a target date of Oct. 12 to complete its review of the company's drug application for Vivitrol.
Shares of Alkermes were rallying by $1.38, or 9.7%, to $15.60 in the premarket session. The average daily share volume for Alkermes is 646,000.
On the other hand, Arena Pharmaceuticals (ARNA) are dropping by $1.58, or 42.3%, to $2.16 in the premarket session after an FDA panel Thursday voted 9 to 5 against the company's weight-loss drug lorcaserin, highlighting safety concerns. The FDA will make its judgment on lorcaserin by Oct. 22. The average daily share volume for Arena is 10.9 million.Crucell (CRXL) shares are surging by $11.31, or 55.1%, to $31.85 in the premarket session after Johnson & Johnson (JNJ) said it is in advanced talks to acquire the rest of the Dutch biotech company in a $2.3 billion deal. J&J currently has a 17.9% stake in Crucell. The average daily share volume for Crucell is 47,000. Transition Therapeutics (TTHI) shares are falling by 31 cents, or 8%, to $3.57 in the premarket session after the company said it has halted development of its experimental diabetes treatment TT-223 after it failed to meet efficacy endpoints in a study. The average daily share volume for Transition Therapeutics is 52,000. -- Written by Robert Holmes in Boston.
>To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV